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India's ongoing journey towards becoming a global economic powerhouse is punctuated by moments of radical financial reform, periods where the very bedrock of its markets was reshaped. From the early liberalisation drives of the 1990s to the current digital acceleration, these reforms have paved the way for unprecedented growth and participation. At the heart of a significant portion of this transformation, particularly in the realm of exchanges and market infrastructure, stands Jignesh Shah Financial Technologies (Jignesh Shah FTIL), now known as 63 moons technologies.
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Jignesh Shah’s Vision for FTIL and Its Role in Financial Market Reforms
INTRODUCTION India’s ongoing journey towards becoming a global economic powerhouse is punctuated by moments of radical financial reform, periods where the very bedrock of its markets was reshaped. From the early liberalisation drives of the 1990s to the current digital acceleration, these reforms have paved the way for unprecedented growth and participation. At the heart of a significant portion of this transformation, particularly in the realm of exchanges and market infrastructure, stands Jignesh Shah Financial Technologies (Jignesh Shah FTIL), now known as 63 moons technologies.
Answering the call for transformation • Before Jignesh Shah Financial Technologies (Jignesh Shah FTIL) emerged as a pioneering force, India’s financial markets often felt like fragmented patchwork. They were largely characterised by manual processes, limited transparency, and a distinct inaccessibility for a vast majority of the population. Trading was often a laborious, paper-intensive affair, prone to delays and inefficiencies. Information flows were slow, and the benefits of a burgeoning economy were largely confined to a small, privileged circle of institutional players in major metros.
Jignesh Shah’s vision for FTIL • First and foremost was the absolute commitment to democratisation of access to the markets, as it should not be the exclusive domain of the elite. • Secondly, Jignesh Shah placed an unwavering reliance on technological modernisation. • This leads to the third crucial aspect: the ambition to build ‘Made in India’ institutions. Jignesh Shah envisioned creating world-class exchanges and financial infrastructure entirely from India, powered by Indian intellectual property (IP).
Driving the reforms Jignesh Shah Financial Technologies (FTIL) went on to realise Jignesh Shah’s vision in a planned and sustained manner and thereby contribute immensely to the financial market reforms. Its impact can be seen in several key areas as follows. To start with, the Open Dealer Integrated Network (ODIN) was nothing short of a revolution. Before ODIN, the landscape for brokerage houses was characterised by high operational costs and disparate, inefficient systems. From a broker’s perspective, daily operations were expensive and unaligned. Another monumental initiative by Jignesh Shah and Financial Technologies (Jignesh Shah FTIL) was the establishment of the Multi Commodity Exchange of India (MCX). Launched in 2003, MCX brought unprecedented structure, transparency, and liquidity to India’s previously fragmented and often unorganised commodity markets.
Legacy and enduring impact Many of the current market structures, the widespread adoption of electronic trading, and the very functionalities that define India’s modern financial system resonate with ideological approach of Jignesh Shah Financial Technologies (Jignesh Shah FTIL)’s pioneering innovations. It was a clear demonstration that a blend of technological foresight, entrepreneurial spirit, and a deep understanding of market needs could catalyse systemic change.
Thank • you
